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Yarra Trams Franchise Agreement

Under the current agreements through June 2016, the government had paid franchisees $1.96 billion to cover the cost of maintaining and renovating train and streetcar facilities – $1.6 billion in MTM and $362 million in Yarra Trams. Until 2014, the State guaranteed ticketing revenues due to uncertainties when the myki ticketing system was introduced. Since 2014, franchisees have been exposed to the risk of variable ticketing revenues. This risk is reduced by the regular redefinition of franchisees` forecasts of ticketing revenues to align with actual revenues and by a risk-sharing regime that sets a ceiling and limit below the level of risk the franchisee would bear. Charts 1I and 1J include actual ticketing receipts and risk reduction payments after January 2014. However, PTV does not include actual box office receipts in its public report in Track Record. To understand the operating costs of franchisees, PTV collaborated with MTM and Yarra Trams and used a transparent and collaborative “open book” approach. PTV found weaknesses in the way it collected financial information from franchisees under the MR3 agreements. The PTV has also identified ways to improve the financial information of franchisees, for example by requiring more complete information from franchisees and ensuring that they have the systems and the ability to analyze and understand trends. PTV expects the operating environment to be more challenging under the MR4 franchise agreements – the state will implement a comprehensive transportation infrastructure program that could lead to disruptions to rail and tram traffic. PTV also estimates that aid will increase by 3 to 4% per year. Efficient and reliable public transport is essential to the economic prosperity and sustainability of the state.

In Victoria, urban trains and trams have been operated by private operators since 1999 and operate under various franchise agreements with the state government. Note: Under the current agreement, the train franchisee was required to achieve and maintain the customer satisfaction index until December 1, 2014 and 80% until December 1, 2018. The Andrews government has decided to reward the two historic public transport operators for their performance that has operated the city`s trains and trams over the past eight years by offering them the right to apply for a seven-year contract extension, excluding other potential competitors. The provision of reliable public services in Melbourne depends on the proper maintenance of the heritage of the tram and train networks.

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